Tom Cruise is reportedly planning a remake of the 1969 Western Butch Cassidy And The Sundance Kid.

The actor was apparently given Paul Newman's blessing for the project ahead of his death from cancer last year.

According to the Daily Express, John Travolta, 55, has been lined up to reprise Newman's Cassidy in the remake, which will be produced through Cruise's United Artists studio.

Cruise, 46, wants to take on the role of Robert Redford's Sundance, which is said to be one of his favourite cinematic performances.

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"Butch and Sundance is a labour of love for Tom," a source said. "He was eight years old when he saw the original and it made an impression that has stayed with him all his life. He can't wait to get to work."

The original film, which follows the exploits of bank robbers Cassidy and Sundance, was directed by George Roy Hill and is said to be based loosely on fact. It won four Oscars at the 1970 Academy Awards, including those for best screenplay and cinematography.